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Ultra High Net Worth Individuals need to get around and they need to get around fast. These are individuals who have at least $30 million in assets, according to a recent report by industry expert Hardy Sohanpal, written in collaboration with Wealth-X (providing intelligence on the ultra wealthy ) and WingXAdvance (compiling analysis of aircraft activity).

While North American UHNWs have traditionally been the major industry players in private aviation, the report says that new orders have dropped in the last two decades. It says "Regulatory changes in many emerging markets have resulted in the beginnings of an internationalisation of private aviation demand.”

The study defines the world UHNW population as 211,275, with a combined net worth of $29.7 trillion. In the Middle East, it found 5,975 UHNW individuals with a combined net worth of US$995 billion.

Here’s the report’s profile of the Middle East private jet owner.

Middle Eastern UHNW private jet owners make up about 2% of the world’s UHNW jet owners. The average Middle Eastern aircraft owner is younger than the average global owner (59.1 years old versus 63.6 years) and has a net worth of US$1.09 billion and liquidity of US$385.5 million. Middle Eastern UHNW individuals buy more expensive planes than their global counterparts; the average value of planes purchased by Middle Eastern UHNW individuals is US$48.8 million, almost three times the global average value of US$16.4 million. Middle Eastern jet owners also spend a greater percentage of their net worth (4.5%) on private aircraft, compared to the world average of 1.0%.

The majority of Middle Eastern jet owners have a blend of self-made and inherited wealth, at 59.1%, while 31% are self-made and 9.9% entirely inherited their fortunes.

A full scale model of a Bombadier CSeries jet. Photo: CARL DE SOUZA/AFP/Getty Images

What private jet users mostly do

The most common industries general UHNW jet owners are in are finance, banking and investment. But analysis by the authors of flight patterns shows that more and more Middle East jet owners are in Europe. Why so? Among the reasons given are; “education, medical treatment, homes, investments and escaping the summer heat in the region.

Superior high levels of service are a must for these individuals, since flying private is less about utility, as in the United States, but more about savoring moments of space away from their usual busy lives.”

The report finds that industrial conglomerates are the most common industry for Middle Eastern UHNW jet owners. This might mean royal family members concerned with private enterprise, businessmen and merchant families. The next industries listed are non- profit and social organizations (25.7%), finance, banking and investment, and manufacturing.